New Hyundai EV Factory Highlights Hyundai History
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Hyundai has built a new factory in Ulsan, South Korea, that will be 100% dedicated to 100% electric vehicles. Interestingly, Hyundai took the opportunity with this auto factory to highlight Hyundai’s deep automotive history.
The factory will be able to produce around 200,000 electric cars a year, with mass production starting in Q1 2026. Full construction starts this quarter.
Hyundai is investing KRW 2 trillion ($1.53 billion) into the project. “The new EV-dedicated plant will lay the foundation for future growth in the era of electrification while building on the dream first established by Hyundai Motor’s Founding Chairman more than half a century ago,” the company states.
“The new EV-dedicated plant will be a human-centered facility with an innovative manufacturing platform that delivers an optimal working environment for employees. The new plant will also be the hub for Hyundai Motor’s mobility production in the era of electrification. With the new plant, Hyundai Motor’s Ulsan Plant complex will become a base of future mobility production.”
Hyundai has been seen by EV fans and followers as a leading electric vehicle developer and producer for the past several years. The biggest downside from the company has been seeming lack of faith in EV demand and lower than desired production capacity. The company has created efficient, highly desired electric cars, but just hasn’t ramped up production and sales as much as many had hoped. Perhaps that’s changing with this new era of eletrification.
“I believe that Hyundai Motor will stand out as a powerhouse in the electric vehicle era with decisive investments. The government will prioritize supporting the improvement of the business investment environment, including bold tax incentives and eliminate regulations that inhibit economic growth,” First Vice Minister of Trade, Industry and Energy Young-jin Jang, stated regarding the news.
“The new EV-dedicated Plant in Ulsan is the beginning of a promising future for the next 50 years and the era of electrification. I am honored to share our dream of a 100-year company here,” said Executive Chair of Hyundai Motor Group Euisun Chung.
An electric Genesis SUV will be the first model produced at the new car plant.
For much more on Hyundai’s history leading up to this, read the company’s announcement.
All photos courtesy of Hyundai Motor Group.
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